According to documents, Morgan Stanley will earn percentage fees from the N.Y. Fed if AIG sells any of its businesses, in addition to an initial $4 million payment as an advisory fee and $2.5 million per quarter, Reuters reported. The New York Fed said that Morgan Stanley will also bill them separately for expenses, including document production and travel costs, the bank said on the Web site.
In documents filed this week, the bank must get permission for expenses beyond $5 million, Reuters said.
In other AIG news, the company completed its sale of its consumer finance operations in Mexico, the company said.
And AIG filed a shelf registration statement with U.S. regulators, enabling it to issue stock in the future.